PPC Greece entering in Romania energy market

The end of January is expected for the finalization of the exclusive negotiations between PPC and the Italian company Enel for the acquisition of the latter’s infrastructure and assets in Romania. Those assets and their acquisition by the Greek company will allow it to acquire an important geostrategic position in the Balkans. Romania is an energy transit corridor to neighboring countries with Russia which are very eager to have alternative sources of supply. If the negotiations are successful PPC will take under its umbrella assets worth 1.2 to 1.3 billion euros. These include wind farms in operation with a total capacity of 534 MW, 3 million customers and an electricity distribution network of 130,000 km

The subsidiary PPC Renewables announced an agreement with the Greek company Mytilineos for the development, construction and sale of a solar energy portfolio of approximately 210MW in Romania. This portfolio consists of two photovoltaic parks, which are expected to enter commercial operation during 2024. Both projects are being developed by Mytilineos, which will also handle construction. The respective projects are located in the southern part of Romania, near Bucharest. Specifically, the largest of them is Kinisis, a photovoltaic park ready for construction (Ready to Build) at the beginning of 2023, with a capacity of 130 MW. The remaining 80 MW will be ready to be built by Q1 2023. Upon completion of construction, the PV installations will be transferred to PPC Renewables.

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